Disney loses appeal in $269-million 'Millionaire' case

Maria Melin

Maria Melin

Walt Disney Co. has lost its appeal of a high-profile case concerning profits from the game show "Who Wants to be a Millionaire."

The Burbank media giant was ordered by a federal jury in 2010 to pay Celador International, the British company that created the game show, $269.4 million in damages over its accounting practices, along with $50 million in prejudgment interest.

The dispute arose over allegations that Disney did not properly account for the value of the show, a major hit on its ABC network for three years beginning in 1999, as it struck deals between different divisions of the conglomerate.

According to evidence presented in the case, Disney's accounting showed that "Millionaire" ran a $73-million deficit for the company, despite its high ratings.